BIOLASE Expects Revenue for the 2012 First Quarter to Be Approximately $12 Million, Up From Previous Guidance of $11 Million
16 April 2012 - 11:00PM
Marketwired
BIOLASE Technology, Inc. (NASDAQ: BLTI), the World's leading dental
laser manufacturer and distributor, today announced that, based on
a preliminary review by management of its financial performance,
the Company expects to report revenue of approximately $12 million
for the first quarter ended March 31, 2012. This is an increase
from the guidance of $11 million provided in February 2012 and an
increase of approximately 13 percent from $10.6 million of net
revenue for the first quarter ended March 31, 2011.
Excluding $3 million in equipment sales to Henry Schein, Inc.
(NASDAQ: HSIC) to satisfy one-time prepaid purchase orders during
the first quarter ended March 31, 2011, the expected revenue in the
first quarter ended March 31, 2012 actually reflects an increase of
approximately $4.4 million, or 58 percent, over normalized revenue
of $7.6 million for the same period in the prior year.
Federico Pignatelli, Chairman and CEO, said, "We are very
pleased that our revenue exceeded our guidance during the first
quarter, traditionally our slowest quarter of the year. We believe
that we are well positioned for success in 2012 with a stronger
infrastructure, a larger sales force and an expanded product line
that includes not only hard- and soft-tissue lasers but a full line
of imaging systems at multiple price points, coupled with the
elimination of the significant inventory overhang in the
marketplace by our former exclusive distributor Henry Schein. These
results validate that we are making progress in becoming the Total
Technology Solution™ provider to the global dental community."
The Company will deliver additional details on a quarterly
conference call and webcast when it reports full financial results
in May.
About BIOLASE Technology, Inc. BIOLASE
Technology, Inc., the World's leading Dental Laser Company, is a
medical technology company that develops, manufactures and markets
dental lasers and also distributes and markets dental imaging
equipment, products that are focused on technologies that advance
the practice of dentistry and medicine. The Company's laser
products incorporate 285 patented and patent pending technologies
designed to provide clinically superior performance with less pain
and faster recovery times. Its imaging products provide
cutting-edge technology at competitive prices to deliver the best
results for dentists and patients. BIOLASE's principal products are
dental laser systems that perform a broad range of dental
procedures, including cosmetic and complex surgical applications,
and a full line of dental imaging equipment. BIOLASE has sold more
than 19,000 lasers among 16,000 customers. Other products under
development address ophthalmology and other medical and consumer
markets.
For updates and information on laser and Waterlase dentistry,
find BIOLASE at http://www.biolase.com, Twitter at
http://twitter.com/GoWaterlase, and YouTube at
http://www.youtube.com/user/Rossca08.
This press release may contain forward-looking statements within
the meaning of safe harbor provided by the Securities Reform Act of
1995 that are based on the current expectations and estimates by
BIOLASE management. These forward-looking statements can be
identified through the use of words such as "anticipates,"
"expects," "intends," "plans," "believes," "seeks," "estimates,"
"may," "will," and variations of these words or similar
expressions. Forward-looking statements are based on management's
current, preliminary expectations and are subject to risks,
uncertainties and other factors which may cause the Company's
actual results to differ materially from the statements contained
herein, and are described in the Company's reports it files with
the Securities and Exchange Commission, including its annual and
quarterly reports. No undue reliance should be placed on
forward-looking statements. Such information is subject to change,
and BIOLASE undertakes no obligation to update such statements.
For further information, please contact: Jill Bertotti Allen
& Caron +1-949-474-4300
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